kaal:claim:1908473-033

Exchange uniform voting rights policies should not be applied to contingent capital securities, and the NYSE and Nasdaq would themselves benefit from an exemption because it could increase marketability and trading on each exchange.

Source quote, verbatim

we believe these restrictions should not be applied to CCS. NYSE and Nasdaq would benefit from exempting CCS from their respective policies because an exemption from the policies could increase the marketability and the trading on each exchange.

From

Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011), IV.B.2.b. U.S. Law, p. 44
https://ssrn.com/abstract=1908473 · source PDF

Cite as

Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011). SSRN: https://ssrn.com/abstract=1908473

Holds when

Exchange policies allow dual class capitalization but bar midstream dilutive changes in voting rights

Classification

normativesupport: argueddefigovernance-designeconomics

Verify

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